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Tuesday, 02 December, 2008, 21:40 GMT | more >>

Houston outfit goes hunting


Colombia on the menu



By Upstream staff 

Houston American Energy has acquired a working interest in 357,000 acres in the Llanos basin in Colombia.

The company is working on a sliding royalty scale on the property, ranging from 8% at 5000 barrels per day to 20% at 125,000 bpd.

A first well will be drilled on the property within a fortnight with seven additional prospects identified for future activity.

"Engineers have given the concession over 120,000,000 barrels of oil potential," said the company.


Tuesday, 10 December, 2002, 14:12 GMT  | last updated: Monday, 02 May, 2005, 13:10 GMT

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